Published on 10 Aug 2023 on Simply Wall St. via Yahoo Finance
Positive Sentiment Still Eludes Ideanomics, Inc. (NASDAQ:IDEX) Following 38% Share Price Slump
The Ideanomics, Inc. (NASDAQ:IDEX) share price has softened a substantial 38% over the previous 30 days, handing back much of the gains the stock has made lately. The recent drop completes a disastrous twelve months for shareholders, who are sitting on a 92% loss during that time.
After such a large drop in price, considering around half the companies operating in the United States' Machinery industry have price-to-sales ratios (or "P/S") above 1.5x, you may consider Ideanomics as an solid investment opportunity with its 0.9x P/S ratio. Although, it's not wise to just take the P/S at face value as there may be an explanation why it's limited.
View our latest analysis for Ideanomics